Agility Robotics has agreed to merge with blank-check firm Churchill Capital Corp XI in a transaction that values the humanoid-robotics developer at $2.5 billion.
The companies announced the deal on Wednesday, marking a significant milestone for the Oregon-based firm known for its Digit bipedal robot.
The $2.5 billion valuation reflects investor appetite for robotics and automation plays, even as the broader SPAC market has cooled from its peak fervor.
The merger will bring Agility Robotics to the public markets under the ticker symbol associated with Churchill Capital Corp XI.
The $2.5 billion valuation reflects investor appetite for robotics and automation plays, even as the broader SPAC market has cooled from its peak fervor.
Churchill Capital, backed by Michael Klein, has previously executed high-profile de-SPAC transactions, lending credibility to the structure.
The announcement comes at a crowded moment for high-profile technology listings.